[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-111363-en":3,"doc-seo-111363-105":29,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},111363,549758252649,"Ivy","https://ap-avatar.wpscdn.com/avatar/8000253669c5317157?_k=1778319167496531819",8,"Research & Report","OECD 111th Meeting of the Development Committee - Statement by Mathias Cormann and Carsten Staur","Statement for the OECD Development Committee’s 111th meeting (Washington, DC; April 24, 2025) outlining the global economic and development outlook. It highlights resilient 2024 growth but rising uncertainty, slowing trade, and worsening tariff-driven risks. It emphasizes record-high debt burdens in emerging and developing economies, higher borrowing costs, and refinancing needs. It also addresses growing financing gaps, pressure on official development assistance, and priorities for more effective, transparent, and inclusive development financing through stronger domestic resource mobilization and mobilizing private finance.","Public Disclosure Authorized Public Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committee  \nof the  \nBoards of Governors ofthe Bank and the Fund  \non the  \nTransfer of Real Resources to Developing Countries)  \nONE HUNDRED AND ELEVENTH MEETING WASHINGTON, DC – APRIL 24, 2025  \nDC/S/2025-0005 April 24, 2025  \nStatement by  \nMathias Cormann  \nOECD Secretary-General  \nand  \nCarsten Staur  \nChair of the OECD Development Assistance Committee  \nOECD  \nStatement by  \nMathias Cormann  \nOECD Secretary-General  \nand  \nCarsten Staur  \nChair of the OECD Development Assistance Committee  \nOECD  \n111th Meeting of the Development Committee  \nApril 24, 2025  \nWashington, DC  \n1. The global economy remained resilient in 2024, growing by 3.2%. Strong real income gains, lower interest rates and robust global trade growth were key supporting factors. The economic outlook has now become more challenging, with declines in business and consumer confidence, rising economic policy uncertainty, and substantial increases in barriers to trade. If sustained, recently announced trade policy measures will negatively impact the economic outlook. The March 2025 OECD Interim Economic Outlook, published before the significant further increases in tariffs were announced in early April, already projected global growth to slow from 3.2% in 2024, to 3.1% in 2025 and 3.0% in 2026. Inflation is now expected to decline more slowly than previously anticipated, and to rise in several emerging market economies, including China, Indonesia and South Africa.  \n2. Debt levels in emerging market and developing economies are at a record high, and borrowing costs are set to increase, putting pressure on their governments’ ability to respond to shocks and invest in sustainable development. The OECD Global Debt Report 2025 shows that outstanding sovereign bond debt in emerging market and developing economies reached 30% of GDP in 2024, up from 20% in 20071. A significant share of this debt will need to be refinanced at higher rates: more than half of outstanding debt in low-income and high-risk counties will come due by 2027, with over 20% maturing in 2025 alone. Debt servicing costs have already increased. US dollar-denominated bond borrowing costs have risen from around 4% in 2020 to over 6% in 2024 on average, exceeding 8% for lower non-investment grade countries. More than half of these countries allocate at least 8% of their government revenues to interest payments2. About half of the emerging markets and developing economies were graded as high risk in 2024, and 9 as very high-risk or in default3.  \n3. Financing needs in developing and emerging economies are set to grow. The OECD’s latest analysis shows that the gap between needs and available investment is set to grow to USD 6.4 trillion by  \n1 In nominal terms, sovereign bond debt in emerging market and developing economies was USD 12 trillion in 2024, up from USD 4 trillion in 2007. Source: OECD (2025), Global Debt Report 2025: Financing Growth in a Challenging Debt Market Environment, OECD Publishing, Paris, [https://doi.org/10.1787/8ee42b13-en](https://doi.org/10.1787/8ee42b13-en).  \n2 OECD (2025), Global Outlook on Financing for Sustainable Development 2025: Towards a More Resilient and Inclusive Architecture, OECD Publishing, Paris, [https://doi.org/10.1787/753d5368-en](https://doi.org/10.1787/753d5368-en).  \n3 Belarus, Ethiopia, Ghana, Laos, Lebanon, Maldives, Niger, Ukraine and Zambia.  \n2030 if current trends continue.4 In parallel, Official Development Assistance is under pressure as provider countries navigate competing spending pressures. Enhanced domestic resource mobilisation, and leveraging new sources of private finance will be critical to enable further development progress and enhance developing economies’ resilience to shocks.  \n4. The OECD provides direct support to developing countries and emerging economies in unlocking new sources of development finance, while laying the foundat","cbCaiqLdQHWdUp1p","https://ap.wps.com/l/cbCaiqLdQHWdUp1p","pdf",259357,1,6,"English","en",105,"# Global economic outlook\n## Debt and financing pressures\n# Strengthening effectiveness of development cooperation\n## Trends in official development assistance and monitoring","[{\"question\":\"What major changes to the global economic outlook are highlighted for 2025-2026?\",\"answer\":\"The statement describes slowing global growth ahead as confidence declines, policy uncertainty rises, and trade barriers increase. 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It also highlights the need to mobilize domestic resources and leverage additional private finance, coordinated with international partners to avoid duplication.\"}]",1784489795,15,{"code":4,"msg":30,"data":31},"ok",{"site_id":24,"language":23,"slug":32,"title":13,"keywords":33,"description":14,"schema_data":34,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":27},"oecd-111th-meeting-of-the-development-committee-statement-by-mathias-cormann-and-carsten-staur","",{"@graph":35,"@context":85},[36,53,68],{"@type":37,"itemListElement":38},"BreadcrumbList",[39,43,47,50],{"item":40,"name":41,"@type":42,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":44,"name":45,"@type":42,"position":46},"https://docshare.wps.com/document/","Document",2,{"item":48,"name":12,"@type":42,"position":49},"https://docshare.wps.com/document/research-report/",3,{"item":51,"name":13,"@type":42,"position":52},"https://docshare.wps.com/document/oecd-111th-meeting-of-the-development-committee-statement-by-mathias-cormann-and-carsten-staur/111363/",4,{"url":51,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":23,"description":14,"dateModified":61,"datePublished":62,"encodingFormat":60,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":40,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-20","2026-07-19",true,{"@type":65,"interactionType":66,"userInteractionCount":20},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"What major changes to the global economic outlook are highlighted for 2025-2026?","Question",{"text":75,"@type":76},"The statement describes slowing global growth ahead as confidence declines, policy uncertainty rises, and trade barriers increase. 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